The government has asked traders to get registered under the new GST regime before July 30. The finance ministry requested all traders to register as soon as possible without waiting for the last date. Failing to register before the deadline would attract a penalty. As per the GST laws, traders with turnover below Rs 20 lakh, or those engaged exclusively in the supply of exempted goods or services need not to register under the new tax regime.
Life Insurance Corporation of India has brought down its stake in The Mahindra & Mahindra to less than 10 % by divesting around 2 % of its holding in the firm. After the stake sale, the life insurer now has 9.95% stake in the company, which was 11.95 % earlier. The Mahindra & Mahindra said that the insurance firm sold more than 1.24 crore shares through market sale.
Amid rising protectionism by the US government for creation of jobs in the country, IT major Tech Mahindra has announced to employ around 2,200 people in America this year. The Mumbai-based company, which has over 6,000 people working in the US, has been recruiting resources out of colleges in the US over the past 4 years. The country is the single biggest market for Tech Mahindra, which operates in its 28 cities.
Delhi Metro Rail Corporation has decided to lease trains to cater to the growing rush of passengers. Inderlok-Mundka corridor will be the first section where the leased trains will be deployed. DMRC is looking for companies that are capable of supplying trains and, if this new plan works, it will take more trains on lease for its other corridors. DMRC will pay rental charges on per hour basis, depending on the trains’ availability.
Uber Technologies Inc’s shareholders and its board have discussed selling some of their stock to SoftBank Group Corp and other potential investors. The deal could include investment of more money into the startup, adding that details about the valuation of shares or how much SoftBank or other investors would buy were unclear. Uber has been facing accusations of a sexist work culture and driver protests off late.